Good luck to you.Have the contractors do line item breakouts for back up and you will start to learn what things cost and it will give you confidence to put fairly accurate rehab estimates together in the future.

Investing without education is just gambling.

The remaining 2/3 of each expense is taken and 2/3 of the total cost is depreciated.I'm not fond of the by number of rooms method as it does not always give an accurate depicture.

Seems to me the IRR is the more accurate way to value this.

For example you can restore old windows (this is as costly as replacement) or you can be forced to use historically accurate reproductions, also costly.

Your are better off taken the conservative route than taken a gamble about the future. 

Try to do your research as accurate as possible.

He said one of the most important things in getting an accurate appraisal is to have someone who is IN YOUR MARKET do the appraising.

I want to build some trust so that I truly will have a third-party verifying what my contractors are telling and showing me is accurate. 

I'm not sure if it's possible but I would like to arrive at an accurate number for the cost to build with everything included.Apartments are almost non existent in the resale market and I am willing to buy the lot and build myself if I'm making a good return.